By Vibin AntonyA quieter
end to the week in what has been a brutal month for US steel
producers, with HR coil spot prices falling over 8% over the past 4
weeks.
As per The Steel Index, the benchmark prices closed on Thursday at $554 a short ton, its lowest level since November 2010, as an oversupply of steel continues to circulate in the marketplace.
Some capacity closures were announced this week though this may only partially reduce the imbalance, with imports and supply chain inventories still of concern.
Little buying activity to note as the week progressed-for now buyers sit tight, well stocked.
The prices of major steel and stainless steel scrap commodities were unchanged on Scrap Register US Price Index as on Thursday.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
As per The Steel Index, the benchmark prices closed on Thursday at $554 a short ton, its lowest level since November 2010, as an oversupply of steel continues to circulate in the marketplace.
Some capacity closures were announced this week though this may only partially reduce the imbalance, with imports and supply chain inventories still of concern.
Little buying activity to note as the week progressed-for now buyers sit tight, well stocked.
The prices of major steel and stainless steel scrap commodities were unchanged on Scrap Register US Price Index as on Thursday.
(This article is compiled by Vibin Antony on behalf of Scrap Register. Send in your suggestions and comments to editor@scrapregister.com)
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